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Jobless claims fall to lowest level in nearly seven years
Jobless claims fall to lowest level in nearly seven years

Initial jobless claims plunged last week to their lowest level in nearly seven years, a sign that the labor market was picking up traction. The number of first-time claims for unemployment benefits dropped to 300,000 last week, a decrease of 32,000 from the week before, the Labor Department said Thursday. The last time claims were this low was in May 2007. The four-week average, which is a less volatile barometer, fell by 4,750 last week to 316,250. The Labor Department said "there were no special factors" that affected the week's data. Economists have said job creation should perk up in the spring as businesses try to make up for a slowdown in the winter, when harsh...

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